Freddie Mac has priced $5 billion of 4.625% two-year Reference Notes due Feb. 21, 2008, and $4 billion of 4.750% 10-year Reference Notes due Jan. 19, 2016.The two-year issue (CUSIP: 3134A4VL5) was priced at 99.883 to yield 4.686%, 27 basis points more than two-year Treasury notes, the government-sponsored enterprise said. The 10-year issue (CUSIP: 3134A4VN1) was priced at 99.330 to yield 4.835%, 39.5 bps more than 10-year Treasury notes. The settlement date for both issues is Jan. 13. Credit Suisse First Boston, Bear Stearns and Co., and Lehman Brothers led the transaction for the two-year security, and Goldman Sachs Group, Morgan Stanley, and UBS Investment Bank led for the 10-year issue. "Combined, these two transactions represent the largest single-month Reference Notes offering from Freddie Mac in the past two years," said John Radwanski, the GSE's assistant treasurer and vice president of debt funding.
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The 2022 vintage had a higher percentage of purchase mortgages, as well as 30-year fixed-rate loans versus the 2021 production, an annual Federal Housing Finance Agency report said.
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Almost half of parents said their grown children returned to live with them after graduation, placing greater challenges on their own long-term housing and retirement goals, according to a recent survey.
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In total, 84 producers from mortgage lenders including Summit Funding and Movement Mortgage have transitioned to Fairway Independent Mortgage.
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But the mortgage unit of Intercontinental Exchange narrowed its quarterly losses and touted the addition of several new customers this year in its earnings call.
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Mortgage rates reached their highest point since the end of November, seemingly not severely impacting Spring home purchase activity, Freddie Mac said.
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The company's branches and loan officers will transition to ML Mortgage but operations staff are not part of the deal.
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